Housing (Loans and Grants) Act, 1962

Grants by Minister for provision of houses.

2.—(1) The Minister may, with the consent of the Minister for Finance and subject to regulations under this section, make, out of moneys provided by the Oireachtas, to a person or public utility society providing one or more than one house in respect of which a grant under this section has not been made a grant not exceeding the appropriate sum specified in the Second Schedule to this Act if, but only if—

(a) erection of the house or each house, as the case may be, commenced or commences on or after the 1st day of April, 1962,

(b) the house or each house, as the case may be, is in compliance with the regulations under this section,

(c) the house or each house, as the case may be, is in compliance with the rules set out in the First Schedule to this Act, and

(d) in the case of one or more than one house provided by a public utility society, the first occupier of the house or each house, as the case may be, is a member of the society who occupies the house or each house as his normal place of residence.

(2) The Minister shall not make a grant under this section and under section 16 of the Act of 1948 in respect of the same house.

(3) (a) In every case in which a grant is made under this section and a revision of the rateable valuation of the tenement consisting of or including the house to which the grant relates is made, such amount of the revised valuation as is attributable to the erection of the house shall, in each of the nine successive local financial years following the local financial year in which the house is completed, be deemed to be reduced for rating purposes by the proportion of such amount specified in the second column of the Table to this section opposite the number of the year in the first column of the Table.

(b) In this subsection “rating purposes” in relation to a tenement means the following (and no other) purposes, that is to say, the purpose of the assessment and levying of any rate raised by a local authority for the service of the local financial year in which the tenement is first rated on the increased valuation referred to in paragraph (a) of this subsection or for the service of any of the next following eight local financial years.

(c) Without prejudice to the generality of the provisions of the immediately preceding paragraph of this subsection restricting the meaning of “rating purposes”, it is hereby enacted in particular that notwithstanding the rateable valuation (in this paragraph referred to as the full valuation) of a tenement being deemed under this section to be reduced in relation to any local financial year, every computation for the purposes of the Income Tax Acts of the annual value of such tenement shall be made in like manner as if the full valuation were in force for the purposes of county rate or municipal rate, as the case may be, in relation to that year.

(4) The Minister may make regulations for the purposes of this section.


Reduction in Valuation of House

Number of year

Reduction in valuation of house